Cardamom down by 1.3% on sluggish demand

Continuing its losing streak for the third straight day, cardamom prices eased by another 1.31% to Rs 790.50 per kg in futures trading today as participants engaged in reducing their positions amid subdued demand in the spot market.

Furthermore, adequate stocks position at spot market on higher supplies from producing regions put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in November month fell Rs 10.50, or 1.31% to Rs 790.50 per kg in business turnover of 234 lots.

Likewise, the spice for delivery in far-month December contracts declined by Rs 8.80, or 1.06% to Rs 817.70 per kg in 9 lots.
 
Market analysts said trimming of positions by traders, tracking a weak trend at spot market on sluggish demand, mainly kept cardamom prices lower at futures trade.